Future Value of an annuity

1. The problem statement, all variables and given/known data
Mike needs $12.000 in 5 years. How much must he deposit at the end of each month for 5 years in an account paying 2.9% compounded monthly so that he will have $12.000 in 5 years?

1. The problem statement, all variables and given/known data
Mike needs $12.000 in 5 years. How much must he deposit at the end of each month for 5 years in an account paying 2.9% compounded monthly so that he will have $12.000 in 5 years?